business-immigration

If you come to Canada to open, expand your own business or buy into an existing Franchisee or take over a business.
YIC has options for you!!!
Canada has various immigration programs for people who wish to come to Canada and establish their businesses. Recently, various provinces have reduced the minimum required investment and Net Worth amounts to qualify more people.
YIC can help you navigate through all the provincial and federal processes and establish your business in Canada.
YIC will tailor your needs and using your previous experience and provide the best option from the below discussed business immigration programs.

Owner Operator LMIA

This federal business immigration program is by far the best and least known business immigration program

Requirements

Program

You can apply for an LMIA under the owner operator class and award yourself 200 additional points in the express entry pool
We help you figure out the business with research through our dedicated chain of professionals
An exploratory visit is then planned where the client can come to Canada and look at various options available for buying into a new or expanding their current business
Once the application for Owner operator LMIA is approved you will receive an additional 200 points in your express entry scores • You can use these additional points to obtain an Invitation to Apply under Express Entry and obtain Canadian Permanent Residence within 6 Months

If you have questions regarding this program, please do not hesitate to contact us. For more information on this program please see this section (insert link here)

OINP – Entrepreneur

The Entrepreneur program is for foreign nationals who wish to establish or buy into a new business in Ontario. The investment and net worth levels for the OINP – Entrepreneur program have dropped significantly since June 2019 and show a shift of the Ontario government to encourage high net worth individuals to open their businesses in Ontario.

Process

The OINP – Entrepreneur program is a two-step process

Stage 1

Register for the OINP portal using the Expression of interest method. Please contact YIC to help you with this process as only authorized immigration consultants are allowed to work on your behalf.
An online application is submitted where your eligibility is considered
If the application is successful an interview in the OINP office in Toronto, Ontario is scheduled
A Performance agreement outlining the requirements of the program is signed

Stage 2

A temporary work permit support letter is issued to the applicant. This letter can be used to apply for a work permit with IRCC.
Ask us HOW!!! In the next 20 months you must complete the conditions you were outlined in the performance agreement
Once the conditions are met, a nomination certificate is issued
Permanent Residence application is sent to IRCC

The OINP – Entrepreneur program is a lengthy application that should be completed with the help of an authorized Canadian Immigration Professional. Please contact YIC to see how we can streamline the process.

Mandatory Requirements – OINP – Entrepreneur

Business Experience - A Minimum of 24 months of business experience in the last 60 months.
This business experience can be demonstrated as a business owner or as a senior manager. Please Note: You must have had senior decision – making responsibilities in your role
Net Worth
Within Greater Toronto Area (GTA) -You must have a minimum net worth of CAD $800,000.
Net worth can include all property, cash, investments, Shares etc.
Outside of Greater Toronto Area – You must have a net worth of CAD $400,000
Personal Investments – Funds Requirement
Within Greater Toronto Area (GTA) – You must make a minimum personal investment of CAD 600,000 and control at least one – third equity in the business
Outside Greater Toronto Area – You must make a minimum personal investment of CAD $200,000 and control at least one – third equity in the business
DID YOU KNOW ! If your business is in the field of Information and communications technology/ digital communications then regardless of the location the minimum investment must be CAD $200,000 and must control at least one – third of the equity in the business
JOB CREATION
Greater Toronto Area (GTA) – If the proposed business is in the GTA then you must create jobs for 2 Canadian citizens or permanent residents within the next 20 months and must be for a continuous period of 10 months and paid median level wage for the positions.
Outside Greater Toronto Area – If the location of the proposed business is outside the GTA, job must be created for at least one Canadian citizen or permanent resident within the next 20 months and for a continuous period of 10 months and paid median level wage

DID YOU KNOW! There are additional requirements if you are purchasing an existing business. Please ask YIC how we can navigate this complex immigration procedure for you OINP will score your application based on a set criteria of selection factors and only applicants with the highest score in these factors will be identified to apply for the program. To Ensure maximum chances of success, please contact us

BC PNP

The BC PNP – Entrepreneur immigration has 3 pathways

BC PNP – Base Category

Personal requirements

have a personal net worth of at least CAD$600,000
A minimum ownership of 33.33%
Minimum investment of CAD $200,000
3+ years of experience as a business owner or 4+ years of experience as a senior manager, OR, a combination of 1+ year of experience as a business owner and 2+ years of experience as a senior manager in the last 10 Years
Obtained a post – secondary credential, OR, experience as an active business owner in 3 years out of the last 5 with 100 % ownership in business
have basic English or French language proficiency equivalent to Canadian Language Benchmark (CLB) level 4 or higher
Must score high on the Registration Section and score a minimum of 32 points in the business concept section

Business Requirements

Establish an eligible new business or purchase and improve an existing business
Make an eligible personal investment of at least CAD$200,000 in the business
create at least one new full-time job for a Canadian citizen or permanent resident in the business
Can be anywhere in BC

DID YOU KNOW!

You can collaborate with a co-registrant in the BC – PNP pool. You both must own one – third of the business

DID YOU KNOW!

You can buy an existing business or a franchisee that has been operated by the current owner for the last 5 years

DID YOU KNOW!

You can own less than 33.33% of the business if you make an investment of CAD $1,000,000

BC – PNP Regional Pilot Program

Requirements

3+ years of experience as a business owner or 4+ years of experience as a senior manager, OR, a combination of 1+ year of experience as a business owner and 2+ years of experience as a senior manager in the last 5 Years
have a personal net worth of at least CAD$300,000
A minimum ownership of 51%
Minimum investment of CAD $100,000
Obtained a post – secondary credential, OR, experience as an active business owner in 3 years out of the last 5 with 100 % ownership in business • have basic English or French language proficiency equivalent to Canadian Language Benchmark (CLB) level 4 or higher
Must engage and enrol in a participating community for support
Must submit a business proposal to establish a new business and be referred by the enrolled community

Business Requirements

DID YOU KNOW!

You must undertake an exploratory visit to the community as a part of the application process

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